India, China working together is the need of the hour: Menon

New Delhi, Apr 1 (ANI): National Security Advisor Shivshankar Menon on Thursday said the current global trends required both India and China to work together.

Addressing a seminar on “India and China: Public Diplomacy, Building Understanding,” organised to mark the 60th anniversary of the Indo-China diplomatic ties, Menon said the global trend towards multi-polarity and a more even distribution of power, has been accelerated by the recent global economic crisis.

While the immediate financial aspects of the crisis may have been addressed, its structural causes in terms of global imbalances remain unsolved, he added.

“Both the trend towards multi-polarity and the financial crisis have actually increased the opportunity and need for India and China to work together on global issues,” Menon said.

“Our experience suggests that there is space in Asia and the world for both India and China to grow and develop, and for us to do so in a way that is mutually reinforcing, if we both wish it,” he added.

Menon expressed confidence that both India and China have the experience and ability to continue to manage the relationship successfully.

In his address, Menon recalled that the rapid recognition and early establishment of diplomatic relations between India and China saying it had special significance.

“Asia was taking charge of its own destiny again, and intended to do so on its own terms. That was a moment of promise, a declaration of intent by the two most populous nations on earth, conscious of the role that they had played in history, and aware of the vast gap between their past glory and present condition,” he said.

Menon said there is common ground for both India and China on the issue of combating terrorism and extremism.

“In the immediate region in which both countries are located, Asia, as well, there is common ground between India and China on combating terrorism and extremism, enhancing maritime security, and on the need for a peaceful environment to permit the domestic transformation of the two countries,” Menon said.

“While there may be differences in method and choice of tools, in most cases there is a marked similarity of goals,” he added.

Menon further elaborated that naturally, the bilateral modus vivendi, which has been in place for some time, may need to be reworked periodically in the light of developments of both countries.

He said whether India and China can work together to help to manage the complicated regional security environment in Asia is looming large.

Menon said India’s preference for open security architecture and the sort of multi-polarity that China too has advocated previously for global issues, and from which we have both benefited in the recent past.

“To do so, India, China and other rising Asian powers must be willing and capable of contributing to global public goods in terms of security, growth and stability that the region and world require,” Menon said. (ANI)

Soaring gold prices worry Kerala jewelers, customers

Kochi, Sep 10(ANI): With gold prices soaring across the country, bullion merchants, jewellers and even customers are a worried lot in Kerala.

The disappointment looms large particularly in the context of the ensuing festival season. In the past, people used to buy gold well before the festivities, but, with gold now priced at Rs16,000 per 10 grams, buying it was becoming difficult.

Normally, the demand for gold rises between August and October in anticipation of the festivals of Dussera, Deepavali and Dhanteras, followed by the Christmas and New Year.

Kerala has one of the highest consumptions of gold and silver ornaments in the country, but the global upsurge in the gold prices has adversely affected the business.

“Traditionally, gold had been the most ideal mode of investment among the people of Kerala and also as jewellery. However, of late, particularly in the context of global trends of rising prices, to a great extent, our business has been severely hit since the purchasing power of the public has slid down and we are the worst sufferers,” said N P Tony, the manager of a jewellery showroom. (ANI)

Sensex fall by 309 points

Mumbai June 23(ANI): Due to the heavy selling of funds and weak global trends the benchmark Sensex of Bombay Stock Exchange (BSE) registered a fall of over 309 points in the opening trade.

The index, which suffered 195 points yesterday, fell further by 309.27 points.

The Nifty of National Stock Exchange (NSE) also followed the trends and suffered 92 points in opening trade to start at 4,143.25.

Tycoons like Reliance Industries and Infosys were the heavy sufferers in today’s trading. (ANI)